December 3, 2024

LEM Capital Acquires Multifamily Property in Woodland, CA

Philadelphia, PA – LEM Capital, L.P. (“LEM”) has acquired The Fairmont (the “Property”), a 192-unit multifamily community built in 1986. LEM plans to execute a comprehensive value-add business plan that will improve the Property’s exteriors, expand and modernize the amenity set, and improve the existing unit interior finishes, including the addition of washer and dryer connections in every apartment. The Property was acquired in partnership with a repeat, West Coast based operating partner.

Located in Woodland, CA, a suburb of Sacramento, the Property benefits from easy access to many of the region’s prominent employment nodes via I-5, such as the Natomas industrial corridor, the University of California, Davis, and Sacramento’s Central Business District. Woodland offers residents a charming, small town feel with a vibrant main street and multiple large retail centers at an affordable price point compared to the adjacent City of Davis. Limited new residential construction and high barriers to entry should bode well for multifamily fundamentals in the Woodland submarket.

The Fairmont is situated in a quiet residential neighborhood and offers residents a low density, garden style setting. The Property has a swimming pool, a fitness center, and a clubhouse. The renovation plans for the Property include enhancing the existing amenity set, improving the building exteriors and landscaping, and renovating apartment interiors which will include the addition of washers and dryers.

“We are very excited to acquire this off-market opportunity,” said Kevin Weidman, a Director at LEM. “The Property offers a mix of operational and physical upside in a desirable, supply constrained submarket”.

About LEM Capital

LEM Capital is a real estate private equity firm with a 22-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.

The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can add value to help increase rents through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of nationwide operating partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight, all led by the firm’s partners. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.

Since 2002, LEM has raised approximately $1.8 billion in investor commitments and invested over $9.2 billion in real estate value contributing to their expertise in structuring, execution and asset management. This includes acquiring over 27,000 value-add apartment units since 2011.

Notes: All data as of September 30, 2024 unless otherwise noted.